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The Cities That Own The Most Bitcoin Aren’t Where You’d Expect

The Cities That Own The Most Bitcoin Aren’t Where You’d Expect
[Source Photo: benkrut/iStock]

The bitcoin boom has been something to behold online. Yet the real-world cities that own the most bitcoin per head aren’t what you’d consider tech hubs whatsoever.

According to a new report from Status Money, which analyzes the finances of millions of people in the U.S., Jacksonville, Florida, is the capital of speculative bitcoin investment with a whopping $31,468 of bitcoin owned on average across the city’s 880,000 citizens.

[Image: Column Five]

Memphis, Albuquerque, and Charleston, South Carolina, come next–you can see the entire map of data charted above for Co.Design by Column Five. California, where you’d assume tech investment would be strong, doesn’t even break in until number six. Even if you look at total investment in bitcoin, disregarding population counts entirely, Jacksonville still claims the number three spot with 4.2% of all crypto trading, versus San Francisco at number four with 3.5%. (Manhattan, however, is the top overall owner of cryptocurrencies in the U.S., with 6.9%.)

So did Jacksonville citizens somehow see the trend coming and get rich quick? Not exactly. According to Status Money, “the influx came from mostly independent retail investors who were not seasoned in investing.” In other words, unless bitcoin rallies soon, the top spots on the map, like Jacksonville, may depict late-to-the-party tulip-buying maniacs–not the most prescient investors across the country.

That said, Jacksonville also lays claim to the first pizza ordered with cryptocurrency! Back in 2014, the pie was purchased for 10,000 bitcoins. Today, that pile of coin would be worth over $89 million.

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